Emerging-Market Stocks Drop as EU, U.S. Toughen Russia Sanctions - Bloomberg

Emerging-Market Stocks Drop as EU, U.S. Toughen Russia Sanctions - Bloomberg:



"Emerging-market stocks fell as the European Union and U.S. said they’re imposing tougher sanctions against Russia to punish President Vladimir Putin for supporting Ukrainian rebels.



The Ibovespa fell the most in a month after Brazilian industrial production declined. India’s S&P BSE Sensex Index dropped for a second day as motorcycle manufacturer Hero MotoCorp Ltd. slid 1.6 percent. Stocks in South Korea and China advanced as automakers and technology companies gained.



The iShares MSCI Emerging Markets ETF fell 0.6 percent to $44.82 in New York. The Market Vectors Russia ETF, the largest U.S. dedicated exchange-traded fund tracking the nation’s companies, tumbled 2.1 percent to $23.85. Developing-market stocks erased gains as EU governments agreed to prevent Russian state-owned banks from selling shares or bonds in Europe and restricted the export of equipment to modernize the oil industry. The U.S. expanded sanctions to include more lenders."



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